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Segment Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
Revenues | The f ollowing tables present segment revenues, profit and assets with reconciliations to the amounts reported for the consolidated enterprise, where applicable:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues: |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 1,012,056 |  |  | $ | 991,077 |  |  | $ | 2,875,411 |  |  | $ | 2,807,251 |
Homebuilding North East |  | 120,478 |  |  | 152,858 |  |  | 364,909 |  |  | 423,190 |
Homebuilding Mid East |  | 406,145 |  |  | 391,933 |  |  | 1,104,603 |  |  | 1,045,458 |
Homebuilding South East |  | 334,652 |  |  | 273,477 |  |  | 929,062 |  |  | 774,002 |
Mortgage Banking |  | 37,933 |  |  | 43,062 |  |  | 124,484 |  |  | 119,225 |
Total consolidated revenues |  | $ | 1,911,264 |  |  | $ | 1,852,407 |  |  | $ | 5,398,469 |  |  | $ | 5,169,126 |
Profit before Taxes |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Income before taxes: |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 124,900 |  |  | $ | 115,180 |  |  | $ | 348,067 |  |  | $ | 318,447 |
Homebuilding North East |  | 13,164 |  |  | 18,560 |  |  | 36,187 |  |  | 51,041 |
Homebuilding Mid East |  | 50,210 |  |  | 51,744 |  |  | 125,976 |  |  | 121,129 |
Homebuilding South East |  | 39,721 |  |  | 31,426 |  |  | 105,582 |  |  | 83,867 |
Mortgage Banking |  | 22,835 |  |  | 27,183 |  |  | 78,566 |  |  | 69,418 |
Total segment profit before taxes |  | 250,830 |  |  | 244,093 |  |  | 694,378 |  |  | 643,902 |
Reconciling items: |  |  |  |  |  |  |  |
Equity-based compensation expense (1) |  | (20,770 | ) |  | (23,586 | ) |  | (58,680 | ) |  | (51,690 | )
Corporate capital allocation (2) |  | 57,887 |  |  | 55,438 |  |  | 168,621 |  |  | 160,091 |
Unallocated corporate overhead |  | (27,914 | ) |  | (20,424 | ) |  | (89,003 | ) |  | (74,211 | )
Consolidation adjustments and other |  | 13,107 |  |  | 142 |  |  | 33,141 |  |  | 22,173 |
Corporate interest expense |  | (5,966 | ) |  | (5,953 | ) |  | (17,964 | ) |  | (17,971 | )
Reconciling items sub-total |  | 16,344 |  |  | 5,617 |  |  | 36,115 |  |  | 38,392 |
Consolidated income before taxes |  | $ | 267,174 |  |  | $ | 249,710 |  |  | $ | 730,493 |  |  | $ | 682,294 |
(1) | The increase in equity-based compensation expense for the nine-month period ended September 30, 2019 was primarily attributable to incurring a full nine months of expense for the equity awards granted in the second quarter of 2018.
(2) | This item represents the elimination of the corporate capital allocation charge included in the respective homebuilding reportable segments. The corporate capital allocation charge is based on the segment’s monthly average asset balance, and was as follows for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Corporate capital allocation charge: |  |  |  |  |  |  |  |
Homebuilding Mid Atlantic |  | $ | 31,504 |  |  | $ | 31,733 |  |  | $ | 93,297 |  |  | $ | 93,682 |
Homebuilding North East |  | 5,028 |  |  | 4,565 |  |  | 14,381 |  |  | 13,325 |
Homebuilding Mid East |  | 9,791 |  |  | 9,541 |  |  | 28,303 |  |  | 26,571 |
Homebuilding South East |  | 11,564 |  |  | 9,599 |  |  | 32,640 |  |  | 26,513 |
Total |  | $ | 57,887 |  |  | $ | 55,438 |  |  | $ | 168,621 |  |  | $ | 160,091 |
Assets |
|  | September 30, 2019 |  | December 31, 2018
Assets: |  |  |  |
Homebuilding Mid Atlantic |  | $ | 1,122,806 |  |  | $ | 1,018,953 |
Homebuilding North East |  | 176,567 |  |  | 144,412 |
Homebuilding Mid East |  | 322,672 |  |  | 290,815 |
Homebuilding South East |  | 410,556 |  |  | 332,468 |
Mortgage Banking |  | 482,146 |  |  | 517,075 |
Total segment assets |  | 2,514,747 |  |  | 2,303,723 |
Reconciling items: |  |  |  |
Cash and cash equivalents |  | 1,068,172 |  |  | 688,783 |
Deferred taxes |  | 114,579 |  |  | 112,333 |
Intangible assets and goodwill |  | 49,872 |  |  | 49,989 |
Operating lease right-of-use assets |  | 63,505 |  |  | — |
Contract land deposit reserve |  | (27,644 | ) |  | (29,216 | )
Consolidation adjustments and other |  | 60,128 |  |  | 40,321 |
Reconciling items sub-total |  | 1,328,612 |  |  | 862,210 |
Consolidated assets |  | $ | 3,843,359 |  |  | $ | 3,165,933 |

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